Astra Industrial Group Price Target Tweaked as United Securities Notes Q3 Earnings

08:06 AM EST, 11/11/2026 (MT Newswires) -- United Securities LLC updated the price target and its 2026 earnings forecasts for Astra Industrial Group (SASE:1212) following the release of the company's third-quarter financial statements. "In light of the weaker-than-expected performance, we have revised down our revenue and net profit estimates to SAR2.74bn and SAR626mn, respectively. Consequently, we have reduced our target price to SAR118.64 per share, which limits the potential upside from current levels. Given the challenging operating environment and continued uncertainty around the recovery in the pharmaceutical business, we recommend to HOLD," analysts wrote on Wednesday. For the three-month period, the industrial holding company's revenue decreased 19.7% year over year, which was "significantly below" United Securities' estimates. The decrease was attributed to the pharmaceutical segment's "sharp decline." Net profit, meanwhile, declined 19.5% annually in the quarter. "Although we had adopted a conservative stance in our estimates, the reported results came in significantly below our expectations. The sharp decline in the pharmaceutical segment is particularly concerning, with the contraction considerably steeper than that reported by other industry players. Given that pharma contributes approximately 55% of the group's consolidated revenue, we believe the ongoing industry slowdown will continue to weigh on the segment's performance in the near term," analysts added.